How & why Marquee Tech will increase your annual revenue by ten’s of thousands of pounds.  

 

Intro

Why should you believe the ROI calculator proposed by Marquee Tech?

How can we justify our claims that Marquee Tech will increase your close rate by 3%?

Well, unlike the other software companies out there, we have a pretty big competitive advantage.

Did you know we speak to your customers?

We know your customers and we sell to your customers??

This year we spent over £50,000 pounds on Google Ads and we generated over £1m in marquee hire sales.

But get this, we don’t own any marquees, we’ve haven’t completed a site visit and we have never met with a customer on face to face meeting.  

This year we spent over £50,000 pounds on Google Ads and we generated over £1m in sales.

Let that sink. We don’t own any marquees. We haven’t completed a single site visit, but yet we have generated over £1m in sales this year.

How? Well, we own another company called MarqueeBokings.co.uk where we act as an external sales team for the 200 marquee suppliers on our books. 

The business was a success and we generated a lot of press…

 

In case you are wondering, yes, we did use to put up marquees!

Now, when you sell marquee hire without owning any marquees you need to come up with innovative technology to guarantee the quotes are accurate, you are credible & the customer’s site is suitable.

We don’t own any marquees, we’ve haven’t completed a site visit and we have never met with a customer.

We constantly upgraded our in-house software & improved our selling techniques until we discovered a process that our customers absolutely loved to the point in which they would rather book with us than going direct.

From analysing the before and after effects of changing our software to help sell to our customers, these are the 4 main ways in which we were successful:

  • Decreasing the sells cycle
  • Increase the referral rate
  • Make the booking process easy
  • Easily following up with leads

🚨 Spoiler alert, the number 1 USP you have in winning new business is speed!

 

Let’s first start with the normal selling process for a marquee company

Day 0: The lead makes an enquiry – you are too busy to speak to them so you call the next day.
Day 1: You call, but they don’t pick up so you send an email.
Day 2: The lead replies to your email with more details and you send a quote
Day 3: Nothing
Day 4: The lead replies to you and wants the quote changed.
Day 5: You change the quote and send it to the customer
Day 6: A site visit is organised.
Day 10: You meet with the client
Day 11: You send a final quote
Day 16: The customer agrees to book
Day 20: You send an invoice and wait for payment.
Day?: You receive payment for the deposit.

Sounds familiar? You are not alone, in fact, you are with the other 75% of marquee companies who have a 20+ day sales cycle.

So what is the difference between you and the top marquee companies?

The top marquee companies recognise the importance of speed and make it there number one USP is speed.

They have an office team, sales teams and the manpower to quickly turn leads into customers.

Only 25% of marquee companies convert leads into sales in under 14 days.

From our research on marquee companies, the data backs this up.

The purple shaded area below shows that only 25% of companies are converting leads into sales in under 14 days for £3000 bookings and only 10% of companies for large bookings, over £12k.

So why is speed so important?

If you think about it, every marquee company is pretty much selling the same marquees (Custom Covers, Barkers, Sperry, TenTipi etc) and the same products.

So how does a customer differentiate one company from the next?

If you think about it, every marquee company is pretty much selling the same marquees (Custom Covers, Barkers, Sperry, TenTipi etc). So how does a customer differenatiate you from your competitor?

The number 1 key differentiating factor is speed. 

The speed in which you can build rapport, generate perfect quotes and meet with customers is what makes the top marquee companies, well the top companies.

This is why top companies are in the purple shaded area of the graph above. 

 

Why is time so important?

Have you ever been really excited to go to a new restaurant, ordered food and then waited over an hour and a half for your food to come?

At some point, someone on the table is going to start complaining and once those complaints start, it’s infectious!

You are at a restaurant with chefs and waiters.

Their job is to take orders, cook delicious food and bring it to you – why am I waiting for so long?!

Well, the same is true for you.

You own a marquee company, you are the chef, the waiter, the management and the establishment.

Your job is to speak to new leads and build them accurate quotes and floor plans as quickly as possible. The top companies are doing this at the point in which they enquire.

When you leave your customers waiting all you are doing is increasing there frustration with you and the chances of booking with a competitor.

The slower you are with your customers, the higher the chances of customers booking with a competitor.

So how does Marquee Tech help?

 

Reducing the sales cycle.

One of my favourite sales quotes is time kills deals.

And it’s true.

When we started Marquee Bookings it would take us 3 hours to build an initial quote for a customer and then 3 hours to amend that quote.

We then reduced the time to quote to 1 hour until we got to where we are now, where we are selling in real-time to our customer.

We are selling in REAL-TIME to our customers.

Yes, you read that correctly we quote and update our quotes with customers live and in real-time.

On top of this, we auto-generate CAD drawings for every customer, which means we can build too-scale floor plans in real-time with the customer (yes you read that correctly too).

 

This is the most important passage of text in this article.

 


 

Within 10 minutes of a customer enquiring, we have spoken to them on the phone and whilst on the phone, we are building quotes and floor plans with them in real-time.

Within 10 minutes we have made a perfect quote and floor plan for the customer and built massive rapport.

We have made that customer so happy in the first 10 minutes of enquiring that our competition literally doesn’t stand a chance (because everyone else is going to reply the next day when the lead is busy again).

 


Our competition literally doesn’t stand a chance (because everyone else is going to reply the next day when the lead is busy again).

And customers love this service, just read our reviews on Marquee Bookings Facebook

 

But, let’s dig a little deeper into why real-time selling is so important.

First, you need to remember that the individual who enquiries with you is extremely busy.

The individual has: to plan her wedding, pick up the kids from school, do the shopping, go to work, clean the house, meet with friends… the list goes on.

The individual has: to plan her wedding, pick up the kids from school, do the shopping, go to work, clean the house, meet with friends… the list goes on.

The point I am making, is…. The individual is very busy.

This is the most important graph on this page.

This graph represents the individual’s interest in marquee hire over time.

At the point in which they make an enquiry with you, they are 100% focused on marquee hire.

As time goes on, other important aspects of there life catch up with them (kids, shopping, friends, work etc) and take priority.

 

This is WHY the previous passage of text is the most important passage of text in this article.

 


 

When the individual makes an enquiry with you they have put aside time in their busy life to research marquee hire.

In 1 hours time, they will not be thinking about marquee hire.

In 1 days time, they won’t care about marquee hire.

But at the exact time in which they have made an enquiry, they are 100% focused on marquee hire and only marquee hire.

You have an unbelievable competitive advantage if you can help that customer during the time in which she has to research marquee hire.

 


 

If you can build accurate quotes and floorplans in real-time with the customer over the phone you will:

  • Build instant and massive rapport
  • Cement yourself an expert who can help the client
  • Show you care
  • Show you are professional
  • Show you are not a cowboy!

This is why speed is your number USP and why if you can build that first impression with a customer you are going to win more and more business

 

Referral business

Referral business is when your previous customers recommend you to there friends, family and colleagues.

This is the oldest and best form of marketing. 

It’s free, but more importantly, the characteristics of the referral customers are likely to be similar to the previous customer.

Which means if you had a customer who spent £10k+, you are more likely to find a new £10k+ customer from the referrers friends. 

You are more likely to find a new £10k+ customer from your previous customers. 

 

Now, we would hope through great customer service and a high level of workmanship our customers would naturally recommend us.

Such referrals often happen spontaneously but businesses can influence this through appropriate strategies.

 

How does marquee tech help influence your referral rate %.

 

CRM system.

Marquee Tech is a purpose-built Customer Relationship Management System (CRM) for marquee hire.

Your leads and customers are stored in one place meaning you shouldn’t lose their details or forget about your customers.

 

Post sale marketing automation 

After the completion of a successful event, you have the ability to auto send an email to the customer, thanking them for there business and if they could, leave a short review on your social media channels.

Doesn’t sound like much?

You will be amazed at how effective small reviews are. If you are automating the review generating process, within 1 year you will have 100’s of reviews.

This is a massive social pull to persuade new customers to book with you.

 

1-year post-event. 

After 1 year has passed on from the customer’s event, you will be alert again to say “thank you for your business last year, we hope everything is going well for you”.

You shouldn’t directly ask for the customer to recommend you to there friends, the trick is reminding the customer that you still care about them after to the event, the customer will do the rest for you.

 

The maths behind a solid increasing %.

The graph below shows the difference in total annual revenue and the difference in customers across an increasing referral rate.

The booking value is kept at a constant of £3500 and the initial customer base is 100.

At just a 2.5% referral rate (which means only 2.5% of all your customers are recommending you), you would gain 3 extra customers (roundUp) and see a revenue increase of £10,500.00.

From looking at the graph below you can see how quickly both your customer base and revenue scales with a well put together referral strategy.

 

Making an “easy booking process for the customer”.

If time kills deals, complexity destroys them!

Have you ever considered how complicated booking a marquee is from the perspective of the bride and groom?

Who can blame them when companies are sending out quotes like this (just imagine what questions are popping off inside the clients head when they receive this quote).

So what should a quote look like?

The idea of a quote is to answer all the questions that are popping off inside your clients head.

The big 4 questions are:

  • How much does this marquee cost?
  • What size does it need to be?
  • Will all my guests fit in?
  • What will it look like?

Can you see how we answer these questions on our quotes?

The quote is selling on your behalf!

Everything is explained to the customer, the quote is easy to read and easy to understand.

Even booking is easy!

Your customers can pay for a £3000 marquee by scanning there face or pressing their thumb (if using Apple Pay).

 

 

 
 
 
 
 
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Your customers can pay for a £3000 marquee by scanning there face or pressing their thumb (if using Apple Pay).

 

Following up with leads

Following up with your leads is the most crucial part of any of your marketing strategies, it’s also the strategy that is most easily forgotten about. 

Following up with leads is also the most cost-efficient form of marketing.

Think about it. The potential client has already come to you and expressed an interest in hiring your company.

The simple fact is that it is much easier to convert someone who is already interested in your business instead of trying to find a new potential client. 

Following up with your leads is the most crucial part of any of your marketing strategies, it’s also the strategy that is most easily forgotten about. 

Now, I’m going to guess that if you have completed a site visit with a client who has a lovely budget, an amazing site and a willingness to book with you, that you are going to naturally follow up with that customer.

Why wouldn’t you? It’s pretty much guaranteed they’re going to book right? 

What about the individual with no date and no site? What is your strategy for the other 70% of leads?

Well, this is where Marquee Tech comes in.

The functionality below, the ability to set a suitable follow-up date for when the leads have a date or site confirmed, has generated ten’s of thousands of pounds for our suppliers on Marquee Bookings.

This is how it works.

If they have a venue or date confirmed, great! They are a strong lead and more likely to actually buy. 

However, if they don’t, well, you can hire a marquee if you have nowhere to put it up.

But that is no problem.

We simply select a date for when the customer thinks they will have a date or site confirmed.

It may be they are waiting to hear back from the Vicar or waiting on confirmation from the site.

We simply log this date into Marquee Tech and the calendar will auto-update, so in 1 months time, there will be a notification for you to follow up with this lead. 

All you need to do is log onto marquee Tech and the week’s automated follow-ups will present themselves to you.

All you need to do is check-in with the customer and ask “hey, how are you getting on with finding a date for your marquee wedding?”

All you need to do is check-in with the customer and ask “hey, how are you getting on with finding a date for your marquee wedding?”

You will never forget to follow up with leads and your potential client will love you because you have remembered them and that’s another booking scheduled into the calendar. 

You will never forget to follow up with leads

 

Conclusion 

This year we’ve spent over £50,000 on Google Ads to drive traffic to Marquee Bookings, we have over 5000 enquiries and generated over £1m in sales.

We are constantly updating our sales cycle, internal software and process to manage thousands of leads in the most efficient way.

Some months the changes don’t work and we lose money, but over the last 18 months, based on experience, time and resources this is what we have learnt.

The best way to drive revenue (without spending money on advertising) is to increase your lead to sales rate. The best ways to do this are:

  • Decrease the selling cycle
  • Increase the referral rate
  • Make the booking process easy
  • Correctly follow up with leads

But, what I find the most interesting is that is it the smaller marquee companies that are very manually driven who will generate the most ROI from Marquee Tech.

This is because the big marquee companies are already running pretty efficient.

They have massive pockets, all the software under to sun, sales teams, marketing departments and so struggle to become more efficient

But the smaller groups, who are very manual, typically there are 1 or 2 directors operating every business department are the ones who benefit the more from our platform.

We have put the increase in lead to sale conversion % at the lower end of the conservative scale, but for companies who offer an amazing customer service and follow the principles from within this article can expect to see their sales numbers go up even further.

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